Nielsen TV: Product Innovation and Jobs Theory

Nielsen TV: Product Innovation and Jobs Theory

Brands today are no stranger to competition. They’re also increasingly challenged to reach consumers immersed in a world of choice and differentiation. But there’s a bigger question they need to think about: Are the products and services they offer the ones that consumers are looking for? Research suggests that many aren’t. That’s where Jobs Theory comes in. Simply put, employing Jobs Theory means developing products and services that meet specific wants and needs of consumers when seeking to make progress against a specific and well-defined Job to be Done. And as Taddy Hall, principal, The Cambridge Group, explains, companies will garner far more success if they stop and think about delivering on that premise rather than focusing on any other.

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By placing the shopper at the center of decision making, manufacturers can better collaborate with their retailer partners to address the inefficiencies of trade spend—one of the largest costs of doing business.

It’s rational that shoppers would be willing to pay more for a product that is of a higher demonstrated quality or value, but there is also a more subjective component that factors into many shoppers’ ideas of what premium means.